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Aaron's profit beats consensus by 58.3% in Q3


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Aaron's profit beats consensus by 58.3% in Q3

Aaron's Inc. said its normalized net income for the third quarter was 74 cents per share, compared with the S&P Capital IQ consensus estimate of 47 cents per share.

EPS increased 16.1% year over year from 64 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $54.1 million, a gain of 16.3% from $46.5 million in the prior-year period.

The normalized profit margin climbed to 7.0% from 6.1% in the year-earlier period.

Total revenue totaled $769.0 million, compared with $767.7 million in the prior-year period, and total operating expenses decreased from the prior-year period to $677.0 million from $686.9 million.

Reported net income rose 21.4% from the prior-year period to $29.3 million, or 40 cents per share, from $24.1 million, or 33 cents per share.